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Increasing industrialization and growing awareness on energy savings have led to advancements in compressor technology and widened the potential of the centrifugal compressors market in India. The shift to high-capacity centrifugal compressors in the process industry will add to manufacturers’ revenues and ensure market development in the country.

New analysis from Frost & Sullivan (industrialautomation.frost.com), Analysis of the Indian Centrifugal Compressors Market, finds that the market is estimated to reach INR 1,180.4 crore in 2016. The end-user segments covered in the study include the oil and gas upstream, midstream and downstream sectors, petrochemicals, chemicals and fertilizers, metals, power generation, textiles, and automotive.

"Escalating demand for energy has encouraged investments in the oil and gas pipeline sector, boosting the sale volumes of centrifugal compressors," said Research Analyst, Industrial Automation and Process Control, Frost & Sullivan. "The initiation of several exploration and refinery projects will further broaden the prospects of centrifugal compressor manufacturers in the country."

Although India is considered one of the fastest growing economies in the world and rated as the most favourable destination for foreign investment in Asia, the country’s high inflation rate affects the manufacturing sector, and in turn, limits centrifugal compressor market growth. Currency depreciation also curbs investments in this capital-intensive market.

In addition, strong competition raises end-users’ bargaining power and weakens centrifugal compressor suppliers’ profit margins, which further take a hit owing to high raw material costs.

The need to decrease total cost of ownership, along with legislative and commercial requirements focused on the environment and effective energy use, fuels the adoption of energy-efficient compressors in India. Therefore, vendors in India are looking to sustain profits by offering high-capacity centrifugal compressors to oil and gas and other process industries, and placing emphasis on energy efficiency, reduced environmental impact, and safety.

"Multi-national manufacturers are collaborating with Indian manufacturers through either technological or marketing tie-ups to expand their presence in the country," noted the analyst. . "Moreover, the replacement market for centrifugal compressors in the country will open up by the end of 2016, and unlock additional avenues for revenue generation."

While centrifugal compressor market is gaining momentum in India, the total life cycle cost of ownership will be the key parameter in selecting a centrifugal compressor. Also, services offered by the suppliers will decide on the sustainability in this field.

If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an email to Priya George / Akshata Mhatre, Corporate Communications, at priyag[.]frost.com / akshatam[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by email.

Analysis of the Indian Centrifugal Compressors Market is part of the Industrial Automation & Process Control Growth Partnership Service program. Frost & Sullivan’s related research services include analysis of the Advanced Process Control and Process Optimization Market in India, Indian Positive Displacement Compressors Market, Distributed Control Systems Market in India, and Indian Bulk Material Handling Equipment Market, among others. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

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